Technological progress and globalization have had a profound impact on shaping the industrial landscape of the global economy. The transition to service economy and the digitalization of business activities have blurred the boundary between nations and between manufacturing and service industries. In tandem, the emergence of new technologies and industries has been accelerated by disruptive innovation, opening a new era of so-called “new industrial revolution.” These changes pose new challenges for governments in formulating economic and industrial policies as well as for businesses in devising corporate strategies.

Against this backdrop, the “2014 International Forum on Industrial Innovation and Service Sector Advancement” was jointly held by the Ministry of Strategy and Finance, the Korea Development Institute and the Korea Health Industry Development Institute to share information on policy practices and business strategies of countries around the world and to seek future directions for national industrial development strategy. The forum took place between 6-7 November in Seoul, Korea and was officially opened by Joon-Kyung Kim, President of Korea Development Institute (KDI) and Eun-Bo Jeong, Deputy Minister of Strategy and Finance (MOSF).

eBay’s Sassoon Grigorian, Director of Public Policy, addressed the forum on the topic of “Internet enabled commerce: the rise of the micro multinational.” The presentation focused on: eCommerce today; the emergence of the micro multinational, small firms selling on a global scale; Korea’s position in this landscape; eCommerce upcoming developments; and policies to further enable its growth. At a recent APEC (Asia Pacific Economic Cooperation) Summit, eBay Inc. released a study that revealed eBay commercial exporters from Korea sell to an average 57 different countries. For more information, access the full study.